Financial News
Trump names Richard Grenell acting director of national intelligenceExternal Link

President Donald Trump on Wednesday said in a tweet he is naming Richard Grenell, the current U.S. ambassador to Germany, as acting director of national intelligence. The New York Times described him as a vocal Trump loyalist who will lead a group of national security agencies often viewed skeptically by the White House. Grenell will take over from Joseph Maguire, who has served as acting director since Dan Coats resigned last summer.

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Wed, 19 Feb 2020 23:29:21 GMT
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CrowdStrike co-founder Alperovitch steps down as tech chief to start non-profitExternal Link

CrowdStrike Holdings Inc. co-founder Dmitri Alperovitch said late Wednesday he has left the cybersecurity company to launch a non-profit policy accelerator to deal with national security and foreign policy challenges. Alperovitch, who served as chief technology officer, announced his post-CrowdStrike plans in a tweet after the close of markets, and CrowdStrike said Michael Sentonas is the company's new CTO effective immediately. CrowdStrrike shares declined 0.3% after hours, following a less than 0.1% decline to close at $66.03.

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Wed, 19 Feb 2020 22:44:52 GMT
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Boston Beer stock drops on earnings, outlook missExternal Link

Boston Beer Co. shares dropped in the extended session Wednesday after the Samuel Adams beer parent company's earnings and outlook fell short of Wall Street estimates. Boston Beer shares fell 8.2% after hours, following a 0.7% rise in the regular session to close at $429.00. The company reported fourth-quarter net income of $13.8 million, or $1.12 a share, compared with $21.8 million, or $1.86 a share, in the year-ago period. Boston Beer said the most recent quarter included a charge of 18 cents a share and a tax benefit of 6 cents a share. Revenue rose to $320.2 million from $239.2 million in the year-ago quarter. Analysts surveyed by FactSet had forecast earnings of $1.56 a share on revenue of $283.8 million. Boston Beer expects adjusted earnings of $10.70 and $11.70 a share, while analysts had forecast $11.77 a share.

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Wed, 19 Feb 2020 22:07:17 GMT
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Harley-Davidson OKs dividend increase, share buybackExternal Link

Harley-Davidson Inc. said late Wednesday its board of directors has approved a dividend of 38 cents a share, an 1.3% increase. The dividend is payable March 20 to shareholders of record on March 5, the motorcycle company said. The board also authorized a stock buyback program of up to 10 million shares of the company. That's in addition to an existing share repurchase authorization approved in February 2018, the company said. Shares of Harley Davidson were flat in the extended session after ending the regular trading day up 0.8%.

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Wed, 19 Feb 2020 22:05:38 GMT
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Stamps.com stock shoots 30% higher as earnings, forecast destroy expectationsExternal Link

Stamps.com Inc. shares soared 30% higher in after-hours trading Wednesday after the online postage-sales company released fourth-quarter results and a 2020 forecast that belied fears that a divorce from the U.S. Postal Service would destroy its business. Stamps.com earned $20.3 million, or $1.13 a share, compared with $42.7 million, or $2.30 a share, in the fourth quarter of 2018. Adjusted for one-time items, Stamps.com earned $2.12 a share, compared with $3.73 a share a year ago. Revenue fell 5% to $161 million, compared with $170 million in the fourth quarter of 2018. Those results beat expectations, as analysts on average expected adjusted earnings of adjusted earnings of $1.03 a share on sales of $144.7 million, according to FactSet. Stamps.com shares were literally cut in half after the company ended its exclusive deal with the USPS a year ago, but that move has allowed it to partner with other carriers, and the company said Wednesday that it could return to sales growth in 2020. Stamps.com projected 2020 earnings of $2.08 to $2.92 a share, or $4 to $5 on an adjusted basis, on revenue of $570 million to $600 million, after the company posted total 2019 revenue of $571.9 million. Analysts on average were expecting 2020 adjusted earnings of $3.24 a share on sales of $537.7 million, according to FactSet. "We are very excited about our business prospects in 2020 and beyond," Chief Executive Ken McBride said in Wednesday's announcement. After closing at $95.46, Stamps.com shares topped $125 in the extended session Wednesday following the release of the results.

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Wed, 19 Feb 2020 21:58:03 GMT
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